TradeStation is one of the most trusted and advanced trading platforms that are specially designed for those who claim themselves to be serious investors and looking for a top-notch platform for trading. This broker can offer you high-level professional experience as it is solely created for experienced brokers and money managers.
The best thing about this broker is that it offers regular investors access to the organization’s high-octane tools. This broker has come up with this amazing feature after cutting the trade cost to $0. It also allows you to make a minimum investment of $0 for its new TS GO offering.
However, this is less beneficial to newbie investors as it demands $2,000 initial investment. The only benefit is you will get access to the full suite tools of the broker, and the free trade can be made using the advanced TradeStation 10 Desktop platform. TradeStation is the best platform for active and experienced traders who are looking for a great broker for Cryptocurrency trading.
|Investment Amount (minimum)||$500|
|Commission per trade||$0/trade|
|Types of Investment||ETFs, Stocks, Options, Mutual Funds, Penny Stocks, Bonds, Futures|
|Type of Account||Taxable, IRA, Trusts, Custodial|
Pros and Cons of TradeStation:
TradeStation is well-known for its superior commitment to customer service. This broker always concentrates on trade executions, and prime-level market data, and these features make this broker a good choice for experienced and active traders. The systems of TradeStation remain available and stable during trading volume surges.
As a whole, this broker always puts a great effort into the market, and it is a great place for mainstream investors as well as technically-minded traders.
- Very less downtime
- Extremely stable platform
- Amazing technical analysis tools
- Charting systems are great
- The featured portfolio Maestro analyzes the performance
- Great training and education system.
- Active trader community.
- limited international trading
- No Forex trading
- To enhance your trading system, you have to go through steep learning that is designed to navigate your trading
- Sometimes, it is confusing to choose the perfect pricing option
- You have to make your Fixed income transactions only with a broker
It is a platform that makes a profit only when you make trades. It has a cost for Stock Trades of $5.00 per equity (not per share). Options trade of this broker costs $5.00/option plus $.50/contract (100 shares). The brokerage fee of TradeStation is considerably low. But, if you are a less active trader, this platform is not right for you.
Being a trader, you need to make at least 50 options trades/month, or you have to trade 5,000 shares in a month or sustain a balance of $100,000 to avoid hefty platform fees. The basic package costs around $99.95 per month. Additionally, if you hold your IRA at TradeStation, you need to make a payment of $35 as an annual fee.
Platform and trading tools:
TradeStation has an exciting and user-friendly desktop platform that is only available for TS Select clients. This feature offers direct marketing access as well as automated trade accomplishment. It also comes with tools that can help consumers to design, examine, counselor, and automate their custom trading plans for stocks, options, and futures. Clients can also customize their desktop with a broad palette of shades to highlight the most important data.
The best thing about this trading platform is-it comes with the TradeStation Simulator, where you can test run your custom or new strategies before you spend actual money on it. TradeStation also has a preview mode where mobile-app users can design custom watch lists, and see charts and trends without initiating an account.
TradeShow is earning high marks and has made a landmark for access to advanced and comprehensive research. There are more than 270 indicators that are consolidated with the TradeStation 10 platform (creating & downloading of new indicators is possible). You can break down your plans using historical market data (includes 90+years of daily data and decades of intraday data). You will also get upcoming earnings announcements from the notification bar.
Education and community:
There are plentiful educational resources at TradeStation that includes free video tutorials and articles that are available at “TradeStation University.” You will also find daily pre-market briefings and trader discussions at “TradeStation Labs.” “TradeStation Today” highlights real-time knowledge, and the associated tutorials and a “workspaces” division explain how trading specialists organize and use the platform’s acquisition of tools. “TradeStation Trader Wiki” works as a helping hand or a second opinion that offers tips and how-tos from other users and conversation forums where clients can blend with a community of likewise committed investors and share knowledge of their strategies and investment ideas.
TradeStation offers advanced security that is up to the industry standards:
- It offers two-factor authentication
- For mobile devices, it offers Biometric login (face recognition or fingerprint)
- In 2019, TradeStation executed technology intended to identify ventured fraudulent account openings to add improvements to safeguard against dishonest money alterations
- As reported by the Identity Theft Research Center, there were no notable data breaches at any TradeStation place throughout November 2019
- TradeShow offers phone support from 8 a.m. to 8 p.m. ET (trading desk hours differ by asset)
- There are Chabot on the website
- You can access online chat with a human agent
- A live broker is available to answer your questions during the market hours
- Every order placed with a live broker incur a surcharge of $50
Making money as an investor or trader is not a cup of tea without proper knowledge and experience. Nowadays, most active investors are losing money and failing to beat their benchmark because they don’t follow their own rules. TradeStation is a great platform that makes it possible for everyday investors with just a few thousand bucks to discover, experiment and implement innovative investing strategies. Yes, there is a knowledge trajectory.
If you are dedicated to active trading, you should consider TradeStation as your first choice broker.